STATE OF MARYLAND

Combined Statement of Revenues, Expenses and

Changes in Retained Earnings/Fund Balances

Enterprise Funds and Pension Trust Funds

for the year ended June 30,1993

(Expressed in Thousands)

		Fiduciary
	Proprietary	Fund Type	Total
	Fund Type	Pension	(Memorandum
	Enterprise	Trust Funds	Only)
Operating revenues:
Lottery ticket sales ..............................................................	$ 882,246		$ 882,246
Charges for services and sales ......................................................	77,475		77,475
Contributions ...................................................................		$ 778,514	778,514
Interest and other investment income ...............................................	215,161	1,529,522	1,744,683
Other ..........................................................................	22,360		22,360
Total operating revenues ......................................................	1,197,242	2,308,036	3,505,278
Operating expenses:
Prizes and claims ................................................................	468,108		468,108
Commissions and bonuses .........................................................	46,225		46,225
Cost of sales and services ..........................................................	54,123		54,123
Operation and maintenance of facilities ..............................................	40,227		40,227
General and administrative ........................................................	70,710	21,175	91,885
Interest ........................................................................	185,827		185,827
Depreciation and amortization .....................................................	14,652		14,652
Benefit payments and refunds .....................................................		865,985	865,985
Provision for insurance and loan losses ..... ... ......................................	11,653		11,653
Other ..........................................................................	7,744		7,744
Total operating expenses ................................................ ... . . .	899,269	887,160	1,786,429
Operating income .............................................................	297,973	1,420,876	1,718,849
Non-operating revenues (expenses):
Investment income ...............................................................	1,981		1,981
Interest expense .................................................................	(15,632)		(15,632)
Operating grants ................................................................	31,090		31,090
Other ..........................................................................	(4)		(4)
Operating income before transfers ...............................................	315,408	1,420,876	1,736,284
Operating transfers in ..............................................................	21,616		21,616
Operating transfers out .............................................................	(335,420)		(335,420)
Net income ..................................................................	1,604	1,420,876	1,422,480
Add: Depreciation of cost of assets acquired from contributed capital .......................	1,245		1,245
Increase in retained earnings/fund balance .............................................	2,849	1,420,876	1,423,725
Retained earnings/fund balance, July 1, 1992 ...........................................	272,060	12,734,094	13,006,154
Retained earnings/fund balance, June 30, 1993 .........................................	$ 274,909	$14,154,970	$14,429,879

The accompanying notes to general purpose financial statements are an integral part of these financial statements.

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